Capco Reference Data Services (CRDS), a leading provider of consulting, processing services and technology solutions to the financial services industry, today announced that it has been selected by AXA Investment Managers to manage the company’s client and third-party data to better support its business processes.
CRDS will develop a data management strategy that will ensure the quality and accuracy of the third-party data that AXA IM relies upon.
CRDS’ client/counterparty services offers clients a “make it clean, keep it clean” service where CRDS provides the ongoing operational support and management of clients’ data.
“We appointed CRDS based on its long track record of delivering data cleansing services to leading financial services firms,” says Valerie Malaval, Global Head of Data Management at AXA IM. “As a user of Capco’s Global Index Monitor (GIM), a single source of cleansed global index and index constituent data, we had first-hand knowledge of the company’s ability to deliver and maintain the highest quality third-party data. The company’s unique expertise in this field sets them apart from other providers.”
“Outsourcing the management of reference data is becoming a strategic necessity for financial organizations. Companies like AXA IM understand that keeping client and other third-party data clean, accurate and relevant is best left to vendors who specialize in this area,” says Predrag Dizdarevic, Partner and Executive Vice President Capco Reference Data Services. “AXA IM can now focus their skilled resources in other areas of the business to achieve a competitive advantage.”
CRDS’ client/counterparty services offers clients both the initial “make it clean” service and the ongoing “keep it clean” service. While “make it clean” helps organizations to align its distributed client/counterparty records, which are often dispersed throughout the organization, the “keep it clean” service provides the ongoing operational support and management to keep that data aligned.